BitShares Forum
Main => General Discussion => Topic started by: Coinality on February 14, 2014, 11:07:00 pm
-
Just wanted to throw this idea out there. Feel free to shoot holes in it!
Problem: Rating agencies (Better Business Bureau, Yelp, etc.) are notoriously influenced by money; negative ratings are suppressed for paying users on Yelp and the BBB has been known to "correct" a company's BBB rating after said company pays its "dues" to the BBB. This results in censored reviews and results in censorship of some submitted reviews.
Solution: A DAC-operated rating agency. I'm not sure what the technical implementation would look like (hence this post) but this is how it would basically work:
- Public addresses would belong to the company/service being rated. Ideally, there could only be 1 address per business, although I'm not sure if this limitation is enforceable.
- Ratings would be determined by the balances of the company's public address: the address with the most "RatingCoins" would be the best and would rise to the top of some type of aggregated list for higher visibility.
- Since there would be little/no incentive for miners, the DAC would need to control/operate a consolidated, scalable mining operation to keep the "RatingCoin" network secure. Eventually, there may be ways to introduce incentives for distributed mining.
Is this even possible?
-
But wouldn't the companies just buy their rankings instead of getting ranked by real people ?
-
Well ideally, "RankCoin" could not be bought or traded (again, not sure if this can be enforced) - but ya, I haven't figured out a way around the problem of manipulation.
-
But wouldn't the companies just buy their rankings instead of getting ranked by real people ?
They would be limited by their budgets, once enough users were in the system.
Also, if one suspected that a firm's managers were trying to buy the love, the Streisand Effect might kick in.
-
I think a simple prediction market (BitShares X ) where the asset in question is 'trustworthiness' of a business. A value of 1000 would be the most honorable businesses you could deal with and a value of 0 would be the FED.
Nothing really fancy here...